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Mixed sales results, but automaker stocks rise on need for cars in Houston

DETROIT — The Big Three Detroit automakers on Friday reported better-than-expected August sales and issued optimistic outlooks for demand as residents of the Houston area replace flood-damaged cars and trucks after Hurricane Harvey, sending their stocks higher. General Motors, Ford and Fiat Chrysler posted mixed August U.S. sales, with GM up 7.5 percent and Ford and Fiat Chrysler down. Japanese automaker Toyota improved sales by nearly 7 percent, while Honda fell 2.4 percent. Still, analysts focused on the potential for Detroit automakers to cut inventories and stabilize used vehicle prices as residents of Houston, the fourth largest city in the United States, are forced to replace tens of thousands, perhaps hundreds of thousands, of vehicles after the devastation from Hurricane Harvey. Mark LaNeve, Ford's U.S. sales chief, told analysts on Friday that following Hurricane Katrina in 2005 "we saw a very dramatic snapback" in demand. That said, Ford sales fell 2.1 percent in August. It sold 209,897 vehicles in the United States, compared with 214,482 a year earlier. Sales were down 1.9 percent in the Ford division and off 5.8 percent at Lincoln. Demand was down for cars, crossovers and SUVs. It was not clear how many vehicles in the Houston area will be scrapped, LaNeve said, saying he had seen estimates ranging from 200,000 to 400,000 to 1 million. Ford's Houston dealers may have lost fewer than 5,000 vehicles in inventory, he said. Ford is the No. 1 automaker in the Houston market, with 18 percent share, according to IHS Markit. The company plans to ship used vehicles to Houston dealers and has "every indication we would have to add some production" of new vehicles to meet demand, LaNeve said. Investor concerns about inventories of unsold vehicles and falling used car prices have weighed on Detroit automakers' shares most of this year. Now, automakers can anticipate a jolt of demand from a big market that is a stronghold for Detroit brand trucks and SUVs. "It's got to be a positive for the industry," LaNeve said. Investors appeared to agree. GM shares rose as much as 3.3 percent to their highest since early March. Ford increased 2.8 percent at $11.34, and Fiat Chrysler's U.S.-traded shares were up 5.2 percent $15.91, hitting their highest in more than five years. GM reported a 7.5 percent increase in U.S. auto sales in August, helped by robust sales of crossovers across its four brands.

The cars that won't live to see 2015 [w/video]

Every year in the fast-paced automotive industry brings new models, but it also spells the end for some that have been less successful. This year will be no exception.
Japan's automakers make up the bulk of the list of discontinued models for the 2015 model year: Acura is replacing the TL and TSX with the new TLX sedan, Honda is bidding farewell to the Fit EV as the new Fit hatchback takes its place, and Nissan is saying goodbye to both the Cube and Murano CrossCabriolet. Both the Nissan Maxima and Mazda2 exit stage left before their upcoming replacements arrive, while Toyota is terminating the RAV4 EV and FJ Cruiser as well as the Scion xD, and Lexus IS C and IS F that are being effectively replaced by the new RC. Meanwhile Infiniti is finally discontinuing the G37 that was already replaced by the newer Q50.
From our own domestic automakers, Cadillac discontinues the CTS-V sedan and wagon as the new CTS rolls in, Chevy is canceling the mild-hybrid Eco versions of the Malibu and Impala sedans, and Chrysler is killing off the 200 convertible as the new 200 sedan arrives.

Acura NSX will use Cosworth block, plus other neat tidbits

The blue NSX you see here was built just two weeks ago. Prototype number six, it rolled off Acura's newest assembly line in Ohio and was rushed out to the Monterey peninsula for various car week activities. We had a chance to sit down with several members of the NSX team to discuss the car, the long road from concept to production, and some interesting details. Below are some choice bits from our conversations. Acura is pretty proud of the fact that NSX version 2.0 was designed and is being built in the US. The new assembly line, called the Performance Manufacturing Center, is in Honda's hometown of Marysville, Ohio. While the line is brand new, the building has seen many uses over its lifetime, most recently as a warehouse facility. PMC staff numbers about 100, with 60 technical and 40 non-technical associates. The car uses parts sourced globally, and one of those sources is Cosworth. The engine blocks and heads come from the English firm and get assembled into twin-turbo powerhouses at Honda's nearby Anna, Ohio, engine plant. The Cosworth name is rarely associated with a bad engine, so we were geeked to hear the NSX's 550-plus-horsepower hybrid powertrain has good genes. Acura hasn't decided how many cars will come to the US each year, but supplies will be limited. We're told there is a total figure for global sales – basically anywhere Honda and Acura vehicles are sold – but they're not ready to divulge that number. Dealer allocation is also yet to be sorted out, although we're told that any dealer that has the necessary tools and equipment to service the new NSX will be able to sell them. Acura currently has 272 US dealers. The switch from the transverse engine originally planned to a longitudinal twin-turbo engine threw everyone involved for a loop. The designers had to lengthen their nearly finalized design, and the engineers working on the production process had to revise or redo much of their work. Though we've been waiting a while for the car since the concept first surfaced in 2012, it's pretty amazing to think that the car was engineered one and a half times and a new factory was built in about three years. But yeah, it's delayed, with series production now set to commence in the spring of 2016. One result of the switch to a longitudinal engine is a transmission hump in the cargo area aft of the engine. The hold is still sized to fit a bag of golf clubs, though it will be a tight fit.